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Members Wiyninger and Stewart introduced themselves to the group. <br /> 4.03: Consider Letter of Intent for Outlot A, Gigi Addition; Case of The Schiebout Family <br /> Limited Partnership, LLLP (Portions may be closed to the public) <br /> Economic Development Manager Sullivan presented the staff report. <br /> Member Riley noted that the previous plan included a steakhouse restaurant, and this plan does <br /> not appear to include that feature. He stated that was a desired amenity from the community, <br /> which is why there was such support from the City for the previous project. He welcomed input <br /> from the developer. <br /> Emily Allegra, representing the applicant, stated that her family started Delta ModTech and is <br /> interested in branching out into other industries. She stated that they enjoyed working with the <br /> City of Ramsey. She noted that they have customers that fly in and there is not a close place for <br /> those people to stay, which is how they got to the concept of a hotel. She commented that staff <br /> did bring up the idea of a steakhouse but noted that COVID changed a lot of those dynamics. She <br /> stated that restaurants included within existing hotels are currently going bankrupt and therefore <br /> that is not included in the plans. She stated that if the hotel does flourish over time, they would be <br /> interested in a freestanding restaurant but do not wish to tie the projects together. <br /> Member MacLennan noted the reference to business travel and asked if that has been picking back <br /> up. <br /> Ms. Allegra replied that is the reason they are requesting a three-month period in order to conduct <br /> an updated demand study of the market. She stated that they know their business has demand as <br /> do some others, but they are not yet fully confident. <br /> Member Wiyninger asked if there has been a study on how bringing in a hotel like this would <br /> impact the surrounding area. <br /> Economic Development Manager Sullivan replied that a study has not been done on the impact to <br /> Ramsey, but it would be likely that people staying in a hotel would provide benefit to other <br /> businesses in the area and would also increase the tax base. He noted that there would also be <br /> ability for extended stay for construction crews. He stated that while The COR is not the only <br /> focus in the community, it is an important asset that the City has invested in. <br /> Member Stewart asked how this hotel would be different than the existing hotel in Ramsey. <br /> Ms. Allegra commented that this hotel would be of a higher scale which brings a higher-level <br /> product and would perhaps draw customers from other communities as well. <br /> Member Stewart asked for more details. <br /> Economic Development Authority/April 14, 2022 <br /> Page 4 of 8 <br />